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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Otto Energy Limited    OEL   AU000000OEL3

OTTO ENERGY LIMITED

(OEL)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 11/26
0.009 AUD   -25.00%
11/27OTTO ENERGY : CG21 Bulleit Field Performance Update
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Otto Energy : Status Update on Hurricane Zeta Impacts - Gulf of Mexico

10/29/2020 | 05:59pm EST

ASX ANNOUNCEMENT

30 October 2020

OTTO ENERGY - STATUS UPDATE ON HURRICANE ZETA IMPACTS - GOM

  • As a precautionary response to Hurricane Zeta.
  1. SM 71 (Byron Energy Operated) Otto 50% WI has been shut-in.1
    1. GC 21 "Bulleit" (Talos Energy Operated) Otto 16.67% WI has been shut-in.
  • Otto's Texas based Operations have been unaffected
    1. Matagorda County, TX "Lightning" (Hilcorp Operated) Otto 37.5% WI continues to produce.
  1. Chambers County, TX "Beluga" (Hilcorp Operated) Otto 18.75% WI drilling operations continue.

Otto Energy ("Otto") (ASX: OEL) is providing a market update on the status of its interests in the Gulf of Mexico in light of yet another hurricane entering the Gulf. Hurricane Zeta is the 27th named storm of the 2020 Atlantic Hurricane season, one off the record of most named storms in a single season set in 2005.

An estimated 50% of the Gulf of Mexico oil production has been shut-in and personnel evacuated over the past 24 hours as a precautionary measure. The Hurricane is expected to make landfall late Wednesday / early Thursday after which Operators will assess the impacts and begin to restore operations.

Otto will continue to update the market on these efforts once stable operations have been restored by the respective Operators of Otto's interests.

This release is approved by the Company's Board of Directors.

Contact:

Investor Relations:

Mike Utsler

Mark Lindh (Adelaide Equity)

Managing Director & CEO

+61 414 551 361

info@ottoenergy.com

1 50% WI in SM 71 F1, F2, F3 and F5 wells. 0% WI in the F4 well.

Otto Energy Limited ASX Code: OEL ABN: 56 107 555 046 info@ottoenergy.com T: +61 8 6467 8800

Australian Office: 32 Delhi Street, West Perth WA 6005 Australia PO Box 1414, West Perth, WA 6872 Australia

1

Houston Office: Suite #1080, Two Allen Center, 1200 Smith Street, Houston, Texas 77002 T: +1 713-893-8894

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Otto Energy Limited published this content on 30 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 22:59:03 UTC


© Publicnow 2020
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Financials
Sales 2020 23,0 M - -
Net income 2020 -1,36 M - -
Net Debt 2020 2,17 M - -
P/E ratio 2020 -15,2x
Yield 2020 -
Capitalization 31,7 M 31,7 M -
EV / Sales 2019 2,75x
EV / Sales 2020 1,10x
Nbr of Employees 11
Free-Float 44,1%
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Managers
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Michael J. Utsler Chief Executive Officer, Director & MD
Johann Baptist Jetter Non-Executive Chairman
Paul G. Senycia Non-Executive Director
Kevin Small Non-Executive Director
Alexander Damien Harry Beard Director
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